Find out about some of the previous events held by Durham Energy Institute:
Optimising Infrastructure Asset Management Using Survival Analysis and Discrete Event Simulation
Asset failure causes widespread financial and operational problems for infrastructure asset-rich industries, for example water, energy and transport. All over the world organisations in these industries are under intense pressure from governments, regulators and the public to do more with less whilst maintaining if not improving the safety, reliability and environmental performance of their assets.
The business challenge is to find the asset management policy that minimises the total cost of asset failure subject to operational constraints, for example the organisation’s work capacity and attitude to the risk of asset failure. The solution is to adopt a more proactive asset management policy where assets are maintained before they fail rather than repaired after they fail.
This talk will describe how PAM, PAM Analytics’ Predictive Asset Management system, uses survival analysis and discrete event simulation to help asset-rich organisations optimise their asset management policies at individual asset level and at the operational, tactical and strategic levels. It will also describe the innovative features of PAM and discuss the results of applying it to a large UK water company.
Atai gained a 1st class honours degree in chemical engineering and a PhD from Imperial College of Science and Technology. His interest in statistics and modelling started during his PhD. Atai is a fellow of the Royal Statistical Society and is a very experienced user of IBM Statistics (SPSS).
He founded PAM Analytics to develop PAM. By working with partners in the UK and abroad to bring PAM to market, PAM Analytics can concentrate on further development of PAM. Full details on PAM are on the PAM System page of the website www.pamanalytics.com.
All DEI Seminars are free to attend and open to the public. Pre-bookable parking is available on campus for non-university attendees. Please email email@example.com if you would like a parking bay reserving.
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